Investment Property for sale

Vacant Building with Planning for 72 Flats, D1 Community Unit & A3 Retail Unit, Croydon, Greater London


£6,500,000
24,649 ft²

Description

Basic Facts

Status: Available
Type: Various
Tenure: Freehold
Area: 24649 sq ft
VAT applicable: Yes

Features

- Above £5m
- Asset management / development opportunity
- Attractive property
- Customer car parking
- Finance available
- Freehold
- Good location
- Large plot
- New Development
- Residential element
- Vacant
- Whole Building
- With Planning

Property Description

This property is being jointly marketed with Savills and SHW for sale by informal tender (unless sold prior) with a tender deadline to be set in due course.

* Freehold Substantial Development Opportunity in London with Vacant Possession
* The existing property extends to approximately 2,290 sq m (24,649 sq ft) GIA and sits within an L-shaped site extending to approximately 0.6 acres (0.25 hectares).
* Fronting London Road is a four storey commercial building, built as a garage with offices above which were formerly occupied by a motor company at ground floor level, and by a church across the upper floors and basement.
* To the rear of the site fronting Montague Road are a number of single storey industrial buildings, formerly occupied by a hand carwash.
* The remainder of the front forecourt and rear of the site is hard standing, predominantly used as car parking.

Location Description

* The site is located at the junction of Montague Road and London Road (A213), a primary route into Croydon from the north.
* The site benefits from close proximity to a wide range of local shops, services and restaurants along London Road, with retail amenity including a Lidl supermarket and Sainsbury’s Local.
* A more extensive offering can be found in Croydon Town Centre, located approximately 700m to the south east along the pedestrianised high street.
* The site has excellent transport connections as demonstrated by its PTAL rating of 6b. West Croydon station is located 350m to the south of the site along London Road, providing regular direct services to London Bridge (18 minutes) and * London Victoria via Clapham Junction (32 minutes).
* A number of bus routes operate along London Road providing wider connectivity to both Brixton and Streatham.

Additional Notes

* The property falls within the jurisdiction of the London Borough of Croydon and is not listed nor lies within a Conservation Area.
* The site benefits from planning permission (Ref: 17/02181/FUL) granted on 3rd October 2018 for the following development: ‘Demolition of the existing buildings and the erection of a mixed use development comprising 72 flats of up to 9 storeys in height and a community use (D1) and one retail unit (A3) on the ground floor with associated parking, servicing and landscaping.’

Categories

Investment PropertyCommercial Investment PropertyResidential Investment PropertyDevelopment Land
Call